Bajaj Finserv Business Loan Interest rates in Thrissur
| Up To 10,00,000 | 10,00,000 Above | |
|---|---|---|
| Manufacturer | 18.00% | 18.00% |
| Service Provider | 18.50% | 18.00% |
| Trader/Distributor | 19.00% | 18.00% |
Features of Bajaj Finserv Business Loan Thrissur
| Type | Features |
|---|---|
| Processing Fee | Up to 3% of the loan amount |
| Pre Closure Charges | 4.0% on outstanding |
| Part Payment Charges | Allowed |
| Min Tenure | 1 Years |
| Max Tenure | 4 Years |
| Min Age | 24 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.5,00,000/- |
| Max Loan Amount | Rs.30,00,000/- |
Bajaj Finserv Business Loan Thrissur Charges
| Type | Charges |
|---|---|
| E M I Bounce Charges | Rs.3,000 for every bounce |
| Penal Interest | 2.00% p.m |
| Duplicate Statement Charges | Rs.50 |
Documentation For Business Loan
For Proprietorship Firm
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Last 2 years of Income Tax Documents
- VAT/CST/ST Registration copies (if any)
- 1 Passport Size colour Photographs
- 6 months Bank Statements
- Latest year business performance related documents.
- Other loansanction letters and their Track (If existed)
For Partnership Firm
- Filled Application Form
- Partnership deed
- Firm PAN Card & Address Proof
- All Partners Identity Proof
- All Partners Address Proof
- Last 2 years of Income Tax Documents
- Last 6 months of Bank Statements
- VAT/CST/ST Registration copies (if any)
- 1 Passport Size colour Photograph for applicant
- 6 months Bank Statements
- Latest year business performance related documents
Private Limited And Limited Companies
- Filled Application Form
- MOA/AOA and Incorporation certificate
- Commencement of operation (if it is a Public Ltd Company)
- Company PAN Card & Address Proof
- All Directors Identity Proof
- Last 2 years of Income Tax Documents
- Last 6 months of Bank Statements
- VAT/CST/ST Registration copies (if any)
- 1 Passport Size colour Photograph for applicant
- 6 months Bank Statements
- Latest year business performance related documents
- Other loansanction letters and their Track (If existed)
Identity Proof Of Partners/Directors
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof Of Partners/Directors
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Address Proof For Personal Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Income Proof Of Partners/Directors
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Banking History For Business Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Bajaj Finserv Business Loan FAQ's
What is an sme Loan?
Small Medium Enterprises (SME) loans are a form of business loans extended only to medium-sized enterprises. These loans are tailor-made to suit the needs and requirements of SMEs. Whether you're looking to grow one, Business Loan from Bajaj Finserv would prove to be the smartest option.
How to Get a Business Loan Easily?
"When you apply for a business loan in India, it is likely that you are a self-employed individual/chartered accountant, doctor, lawyer, working in a limited/private limited company or a partnership/proprietorship firm. The easiest way however, to apply for a business loan, is to go online and get your job done in minutes. The eligibility criteria and loan amount might depend on factors such as: • Type of Business • Turnover • Cash-flow • Profit • Track Record "
What is the Interest Rate for a Business Loan?
Bajaj Finserv helps your growing businesses by offering one of the lowest Business Loan interest rates in India. In order to check your interest rate on Business Loan, we have a calculator for you. Other charges such as Processing Fees, Secure Fee and EMI bounce charges would be applicable. Now you can apply for a Business Loan online and get approval within minutes.
What are the Documents Required for Business Loan?
Business Loan or SME loan requirements are different from other loans. In order to read about all the documents that would be required as well as to check eligibility criteria for Business Loan in detail,
What is Small Business Loan?
A Small Business Loan is a form of a Business Loan which has been exclusively designed and tailored to meet the requirements of a small to medium scale business.
About Bajaj Finserv
The company is currently engaged in consumer finance businesses, life insurance, and general insurance and has plans to expand its business by offering a wide array of financial products and services in India. Apart from financial services, Bajaj Finserv is also active in wind–energy generation.
Bajaj Finserv Highlights
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Why Business Loans?
Owning a business is an exciting journey. When starting off there are many odds and ends to be met, once the business is set things will begin to takeoff. However nothing is possible in the business world without the right financing. Many business owners will review the financing options available to them, Business Loans are the best suitable for kind of your requirements.
As a business owner, your most difficult task is finding the money to operate your business. Taking the necessary steps to prepare for a small business loan can minimize the difficulty.
Learn what you need to know to clinch the loan deal.
You can get a loan for your business by proper preparation. The main requirements of attaining a business loan are your credit history, business plan, experience, education, and feasibility of the business you are expanding.
The most important task to obtain a business loan is to improve the business. Your business plan must answer the questions, a lending institution would ask for following.
The factors which will affect your business loan eligibility and rate of interest:
Interest rates
Rate of Interest will be based on bank/financial Institutions internal policies and terms. Generally Bank account conduct, reputation of the entity, repayment capability, credit history, Promoters Back ground and other credit related factors which can be evolve for Business Loans.
Tenor: from min of 12 months to Max of 48 months.
Interest Rate: from min 16(percent) to 22 (percent) .
Age: Min of 24 years to max of 55 years.
Repayment: Monthly EMI to be paid till the loan closure.
Repayment mode: By way of PDC, ECS or Standing Instructions.
Pre-Closure Charges: Will be applicable as per bank norms.
Expert Advice
Best Practices for Business Loan
Things not to do for Business Loan
Important points to be remember for Business Loans
Business Loans Vs Working Capital Facilities
| Business Loans | Working Capital Facilities |
|---|---|
| Generally Business Loan are small tenor unsecured loans offered by the bank based on the requirement, conduct and credit history of the entity. | Working Capital loans are related to business day to day operations, there is no limitation for the working capital facilities as per the entities financial performance and collateral capacity. |
| Business Loans are by nature it is a loan and need to repay the regular instalment till the loan will be cleared. | Working capital Facility is a facility you can avail the regular day to day transactions for your business purpose, generally WCF will be sanctioned for 12 months tenor. |
| Business Loans can be used for any related works, and there is no restriction for usage of funds. | WCF will be used only for business and business related purpose, there is a restriction on usage for facilities. |
| Business Loans will be only provide the fund based limits. | Working capital facilities can be sanctioned for fund based or non fund based requirement. |
| Only one type of facility can be availed from the Business Loans from the bank | Various types of facilities can be offered by the bank under WCF facilities. |
| Business Loans can be availed by small business owners. | WCF facilities can be availed by small business owner to big corporate. |
| Maximum tenor of loan is 48 months offered by the banks. | Maximum tenor will be 12 months based on the facility requirement. |
| Business Loans are costly than the WCF loans. Generally interest rates will be very from 18% to 21%. | WCF are relatively cheaper than the Business Loans. Generally interest rates will be vary 13% to 15% as per bank internal policy. |
| Minimum of 3 years vintage will be required for the business loans. | Min of 1 year vintage for calculation of eligibility will require for WCF. |
| Generally Business Loans will be used for unexpected requirement in business.. | WCF will be used for regular activities of business. |
| Loan disbursement will be max 7-15 days from the date of application. | Min of 15 days to max of 90 days will require for process the WCF request from the date of application. |
| Banks/Financial Institutions will prefer to provide the business loans to WCF customers. | Banks will prefer to take more collateral to fund the WCF. |
| Interest will be on total loan outstanding and will be calculated on monthly basis. | Interest will be calculated on daily basis outstanding and will be debited in account on monthly basis. |
About Thrissur
Thrissur originally Thiru Siva Peroor and previously known by its anglicised form as Trichur, is the fourth largest city, the third largest urban agglomeration in Kerala and and the 20th largest in India, population 1,854,783.Thrissur is known as the “Cultural capital of Kerala” and has been the scene of numerous events of historic and cultural importance. Thrissur is built around a hillock on which the famous Vadakkunathan Temple is situated.
The history of modern Thrissur started with the swearing ceremony of Raja Rama Varma in 1790, who is popularly known as Sakthan Thampuran (1790-1805). The mighty ruler Sakthan Thampuran is legendary as the architect of Thrissur town.
Places To Be Visited In Thrissur
Basilica of Our Lady of Dolores
With murals on its walls and ceilings, this 1875-built Roman Catholic Minor Basilica has the largest church interior in South India. It is adorned with 140 ft long steeple, which is visible from anywhere in the town. The chapel has 15 altars and boasts of neo Gothic spires. It is locally famous by the name of Puthen Palli.
Vadakummnathan temple
With a collection of beautiful Mural paintings, some of which are more than 400 years old, this gigantic 1000 year old temple and historical structure is famous for the Nataraja Mural near the main gate.The shrine of Vadakkumnathan is also situated there, which is apparently covered completely under ghee for centuries, without any incidence of melting. The shrines of Mahavishnu and Shankaranarayan are also located in the temple.
Athirapally Falls
It is Situated in a small place in the Thrissur district of Kerala, the 80 ft high and 330 ft wide Athirapally falls is a majestic waterfall that is right in front of the Sholayar ranges and is often referred to as the "Niagara Falls of India". It is part of the Chalakudy River that originates in the Anamudi mountains of the Western Ghats.
Vazhachal Falls
Vazhachal Falls is a popular picnic spot. Quality time can be spent here with the family. The place is located at a distance of 60 km from Thrissur city and 5 km from Athirapilly Falls. Vazhachal Falls have dense forests of Sholayar ranges surrounding . During its course on rocky terrain, River Chalakkudy gives out in three branches, which resume its flow surrounding the small islands formed by the riparian forests. These three branches gather momentum on its downward course and plummet to the rocky bed of River Chalakkudy to re-unite.
Charpa Falls
Charpa Falls is another one of the nature's delight that displays the blessings of Mother Nature. Cascading down from a shot height, this fall which is a part of River Chalakkudy offers a breathtaking experience. Athirappilly Falls and Lake Vachumaram are a stone's throw away from Charpa Falls.
Chavakad Beach
A sea shore adorned with rare scenic beauty, the Chavakad beach is renowned as being one of the best beaches along the West Coast.